Common use of Required Collateral Clause in Contracts

Required Collateral. With respect to each Advance, Borrower shall cause to be maintained with Lender Collateral consisting of a Mortgage Loan(s) with a Collateral Value not less than, at any date, the outstanding principal balance of the related Advance. With respect to each Advance, the Pledged Mortgage Loan shall be: (i) if the Advance is a Tranche A Advance, a Conventional Conforming Mortgage Loan; (ii) if the Advance is a Tranche B Advance, a Government Mortgage Loan; (iii) if the Advance is a Tranche C Advance, a Jumbo Mortgage Loan; (iv) if the Advance is a Tranche D Advance, a Super Jumbo Mortgage Loan; (v) if the Advance is a Tranche E Advance, an Expanded Criteria Mortgage Loan; (vi) if the Advance is a Tranche F Advance, a Subprime Mortgage Loan; (vii) if the Advance is a Tranche G Advance, a Closed-End Second Lien Mortgage Loan;

Required Collateral. With respect to each Advance, Borrower shall cause to be maintained with Lender Collateral consisting of a Mortgage Loan(s) with a Collateral Value not less than, at any date, the outstanding principal balance of the related Advance. With respect to each Advance, the Pledged Mortgage Loan shall be: (i) if the Advance is a Tranche A Advance, a Conventional Conforming Mortgage Loan; (ii) if the Advance is a Tranche B Advance, a Government Mortgage Loan; (iii) if the Advance is a Tranche C Advance, a Jumbo Mortgage Loan; (iv) if the Advance is a Tranche D Advance, a Super Jumbo Mortgage Loan; (v) if the Advance is a Tranche E Advance, an Expanded Criteria Mortgage Loan; (vi) if the Advance is a Tranche F Advance, a Subprime Mortgage Loan; (vii) if the Advance is a Tranche G Advance, a Closed-End Second Lien Mortgage Loan; (viii) if the Advance is a Tranche H Advance, a HELOC Mortgage Loan; or (ix) if the Advance is a Tranche I Advance, a Nonperforming/Subperforming Mortgage Loan. Lender, in its sole discretion, shall determine the correct loan type for each Pledged Mortgage Loan.